Europe's Cevian Capital takes stake in ThyssenKrupp

|About: ThyssenKrupp AG ADR (TYEKY)|By:, SA News Editor

European activist investor Cevian Capital acquires a 5.2% stake in steelmaker ThyssenKrupp (TYEKY.OB, TYEKF.PK), saying its shares are undervalued but that it was encouraged so far by a recent strategic shift by management.

ThyssenKrupp has said it would restructure the company - cutting costs, shopping its loss-making Steel Americas operations and streamlining its European steel operations - so Cevian's next move is not clear.

Shares are ~3.5% higher in Frankfurt trading.